Broker to offer actuarial firm’s predictive modelling to clients

Broking group BMS has teamed up with US actuarial specialists Pinnacle Actuarial Resources to provide predictive modelling to its clients.

BMS said that specialist predictive modelling had become an “essential element in any leading-edge analytics tool kit” and that it had therefore sought to offer it to clients through the deal with Pinnacle.

The broker said the offering would enhance clients’ ability to assess and price risks as well as improve claims and underwriting processes.

BMS’s analytical services team will work closely with Pinnacle, who will supply predictive modeling analyses and implementation support, as appropriate, to BMS clients.

The company added that the deal is exclusive: BMS is the only reinsurance broker Pinnacle is partnering with to offer predictive modelling to primary insurance cilents.

BMS chief execuitve Carl Beardmore said: “We are proud to be able to make another industry-leading expert solution available to our clients. This exclusive relationship with Pinnacle will ensure our analytical services offering is one of the best in the business, providing clients with a tailored, cutting-edge package to meet their actuarial needs.”

Pinnacle’s principal and consulting actuary Roosevelt Mosley added: “We’re excited to be working with BMS to assist their clients in their predictive modeling needs. Whether it’s developing pricing models and rating relativities, evaluating new rating factors, analysing underwriting processes, optimizing claim processes or developing claim fraud detection models, we’re ready to bring deep and extensive experience to BMS’s clients.”